State looking to help Alabamians reclaim their unclaimed property

MONTGOMERY, Ala. (WSFA) - Wednesday is National Unclaimed Property Day, and the state is looking to help Alabamians reclaim such property that is rightfully theirs.

State Treasurer Young Boozer described unclaimed property as financial accounts or items of value in which the owner has not initiated any activity for a number of years. When that happens, and the company cannot locate the owner, the money or properties are turned over to the state. Common examples include unpaid life insurance benefits, payroll, forgotten bank accounts and account deposits from utility companies.

Boozer says Alabama is currently holding more than $1 billion in unclaimed funds for citizens. These funds can be returned to their rightful owners at no charge. Individuals may visit treasury.alabama.gov to search for their name, the name of a business they own or family members.

“Nothing gives us greater pleasure in our office than reuniting people with their money! As funds are turned over to us once a year, I like to remind folks to check our website, treasury.alabama.gov, every year on their birthday. That’s an easy way to remember, and we might just be holding a present for you in the way of unclaimed property funds,” Boozer said in a new release.

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